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Universalizing Complete Access to Finance: Key Conceptual Issues

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  • Rai, Suyash

    (Asian Development Bank Institute)

  • Ananth, Bindu

    (Asian Development Bank Institute)

  • Mor, Nachiket

    (Asian Development Bank Institute)

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    Abstract

    In this paper, we present two stylized models of the financial system. We make the case that in order to realize the potential of a well-functioning complete financial market, financial system designers and financial service providers will need to think about ways to deliver financial propositions that are customized to individual households by responding to their unique circumstances. This will entail the presence of proximate, well-trained providers that intermediate between the customer and those large “product manufacturers” whose goal is financial well being and not merely product sales. These providers would need to use expertise in financial advice or wealth management to develop integrated financial propositions for clients. We also highlight some of the important debates that arise in making this stylized financial system a reality.

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    Bibliographic Info

    Paper provided by Asian Development Bank Institute in its series ADBI Working Papers with number 256.

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    Length: 19 pages
    Date of creation: 10 Dec 2010
    Date of revision:
    Handle: RePEc:ris:adbiwp:0256

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    Keywords: financial system; financial products providers; financial well being;

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